** Special Incentives (Qualified Military, First Responders, Teachers, Qualifying Income 50% AMFI – 31,450) ** the detailed qualifying criteria is in the Guidelines, please make sure you qualify before you reserve.

GOVERNMENT

USDA-RD or VA

4.625%

640

w/4.5%

9/5

FHA

660

w/4.5%

FHA

640-659

w/3.5%

CONVENTIONAL

Fannie Mae HFA Preferred

4.875%

640

w/4.5%

9/25

Freddie Mac HFA Advantage

Phoenix Home Access MCC Program (only for City of Phoenix) click to view

Assistance is Automatically Calculated on the Final Loan Amount (Grant)

Various Levels as per Above Chart.

Special Incentives – please see guidelines for qualifying descriptions (they are very specific).

Qualified Military, Qualified First Responders, Qualified Teachers

Lender Up Fronts. US Bank Will Reimburse at Purchase

Cash Back is Not Allowed.

Manufactured Homes Not Allowed

Manual UW Not Allowed

eHousingPlus is the Program Administrator, and provides some of the following services:

Administrator Guidelines (6/19)

Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.

Program Updates

9/1- The IDA City of Phoenix – Home Success MCC Program has been discontinued.

6/19-Money Management as an approved online education provider , Community Housing Resources will no longer be accepted after June 30, 2017. Borrower eligibility requirement for borrowers using Home in Five Program more than once-property must be sold

1/11 – cosigner language revised

10/19 – Special Incentives is expanded to include households at/below 50% AMFI ($31,450)

11/9 – The following are the ONLY three approved online homebuyer education providers. 8-hour online homebuyer education courses are offered by Trellis (formerly known as Neighborhood Housing Services
of Phoenix), Newtown CDC and Take Charge America.

1/14 – The IDAs selected this afternoon a new 3.75% mortgage rate for their 2013 Home in Five Advantage program.

IMPORTANT !

Loan Processing, Delivery and Purchase Timetable:

Once a loan is reserved in the eHousingPlus system and is provided the Servicer’s Loan number, the loan must be:

underwriter certified within 15 days of loan reservation

closed and delivered to the Servicer within 45 days of loan reservation and

purchased within 70 days of loan reservation.

Any loan not purchased within 70 days is ineligible for purchase unless the lender chooses a one-time only 30-day extension. Again, the extension is offered once per loan and no further extensions will be allowed. Furthermore, regardless of choosing an extension, any loan not purchased within the approved timeframe will become the liability of the originating lender, including any down payment assistance provided at closing.

* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.